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US dollar falls as rate-hike expectation dims

A money changer counts U.S. dollar bills at a currency exchange office in central Istanbul

The US dollar dropped against most major currencies on Tuesday as investors lowered their expectations for an interest-rate hike as soon as September ahead of the Federal Reserve’s policy meeting next week.

In late New York trading, the euro rose to $1.1187 from $1.1170 in the previous session, while the dollar bought 119.99 Japanese yen, higher than 119.28 yen of the previous session.

(IANS)